Tiaa Fsb lowered its stake in Bank of New York Mellon Corp (NYSE:BK) by 2.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,108 shares of the bank’s stock after selling 1,212 shares during the period. Tiaa Fsb’s holdings in Bank of New York Mellon were worth $2,476,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Private Capital Group LLC raised its position in shares of Bank of New York Mellon by 3.6% during the fourth quarter. Private Capital Group LLC now owns 5,628 shares of the bank’s stock worth $265,000 after acquiring an additional 197 shares during the last quarter. CWM LLC increased its holdings in Bank of New York Mellon by 13.3% in the fourth quarter. CWM LLC now owns 1,728 shares of the bank’s stock worth $81,000 after purchasing an additional 203 shares in the last quarter. Marathon Capital Management increased its holdings in Bank of New York Mellon by 1.9% in the fourth quarter. Marathon Capital Management now owns 11,040 shares of the bank’s stock worth $519,000 after purchasing an additional 210 shares in the last quarter. Highstreet Asset Management Inc. increased its holdings in Bank of New York Mellon by 1.9% in the fourth quarter. Highstreet Asset Management Inc. now owns 11,558 shares of the bank’s stock worth $544,000 after purchasing an additional 216 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Bank of New York Mellon by 6.2% in the fourth quarter. Quadrant Capital Group LLC now owns 3,792 shares of the bank’s stock worth $168,000 after purchasing an additional 223 shares in the last quarter. Institutional investors own 87.61% of the company’s stock.
BK stock opened at $53.44 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.70 and a current ratio of 0.70. Bank of New York Mellon Corp has a 1-year low of $43.67 and a 1-year high of $58.22. The firm has a market capitalization of $50.22 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03.
Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, April 17th. The bank reported $0.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.02). Bank of New York Mellon had a return on equity of 11.53% and a net margin of 22.19%. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the firm posted $1.10 EPS. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, research analysts predict that Bank of New York Mellon Corp will post 4.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Monday, April 29th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.10%. Bank of New York Mellon’s dividend payout ratio is currently 26.60%.
In other Bank of New York Mellon news, CEO Charles W. Scharf sold 4,674 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $52.99, for a total value of $247,675.26. Following the transaction, the chief executive officer now owns 304,118 shares of the company’s stock, valued at $16,115,212.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Bridget E. Engle sold 22,670 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $52.99, for a total value of $1,201,283.30. Following the completion of the transaction, the vice president now directly owns 92,150 shares in the company, valued at approximately $4,883,028.50. The disclosure for this sale can be found here. In the last three months, insiders sold 3,713,437 shares of company stock worth $198,594,100. Insiders own 1.71% of the company’s stock.
Several equities research analysts have recently commented on the company. Deutsche Bank boosted their price objective on Bank of New York Mellon from $57.00 to $58.00 and gave the company a “buy” rating in a report on Friday, March 15th. Vining Sparks reaffirmed a “buy” rating and set a $55.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, January 23rd. Zacks Investment Research raised Bank of New York Mellon from a “sell” rating to a “hold” rating in a research report on Monday, January 21st. Finally, Citigroup cut Bank of New York Mellon from a “buy” rating to a “neutral” rating and cut their target price for the company from $55.00 to $52.00 in a research report on Wednesday, January 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $56.14.
About Bank of New York Mellon
The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.
Recommended Story: Trading Strategy Methods for Individual Investors
Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corp (NYSE:BK).
Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.